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CLS Holdings USA, Inc. (CLSH), operating as Cannabis Life Sciences, generates frequent news as a diversified cannabis company with integrated production, branding, and retail operations. Company updates often focus on its Oasis Cannabis dispensary in Nevada and its City Trees cultivation, production, and distribution brand, which offers cannabis concentrates and cannabis-infused products in Nevada, New Mexico, and New York.
News about CLS commonly covers operational developments and market expansion. Recent announcements have described the expansion of City Trees into new recreational markets through licensing arrangements, including entries into New Mexico and New York. The company also issues updates on new product lines and partnerships, such as collaborations to launch solventless cannabis vape products and initiatives to refresh and broaden its City Trees offerings.
CLS Holdings also releases corporate and capital structure news. Press releases have detailed debt repayment and restructuring, amendments to convertible debentures and warrants, and share repurchases linked to debt reduction. The company has additionally reported on a reverse stock split (share consolidation) and its application to voluntarily delist from the Canadian Securities Exchange, along with plans to cease being a reporting issuer in Canada.
Another recurring theme in CLS news is sustainability and packaging initiatives, including partnerships aimed at introducing certified plastic-negative packaging for its Nevada-based Oasis Cannabis dispensary. Readers following CLSH news can expect coverage of product launches, licensing-driven geographic expansion, debt and capital updates, regulatory and listing changes, and brand-focused initiatives across Oasis Cannabis and City Trees.
CLS Holdings USA, Inc. (CLSH) will host a webcast on April 14, 2022, at 5 p.m. ET to discuss its Q3 FY 2022 financial highlights. The Company operates in the cannabis sector under the Oasis Cannabis brand in Nevada, focusing on integrated production and retail. Their operations include licensing, processing, and brand creation, aiming to expand into additional states. Interested individuals can access a replay of the webcast on CLS's website post-event.
CLS Holdings USA (OTCQB:CLSH) announced strong financial results for January and February 2022, despite a decline in the overall Nevada retail cannabis market. Key highlights include:
- City Trees' retail sales hit $1.05 million in January 2022, a 195.5% increase year-over-year.
- February net revenue reached $1.98 million, up 32% YOY and 72% from 2020.
- Gross profit margins exceeded 50%, with City Trees at 57% in February.
- City Trees maintained the #1 tincture brand position in Nevada.
CLS plans its first quarterly investor call in April.
CLS Holdings USA, Inc. (OTCQB: CLSH) announced January 2022 results with net revenues of $1.75 million and a 55% gross margin, continuing their target above 50%. The company recorded an 18% year-over-year revenue growth, with its City Trees brand experiencing a remarkable 127% increase compared to last year and 191% from 2020. City Trees is recognized as the top-selling tincture brand in Nevada. The company signed two significant manufacturing agreements in January to produce concentrates for established and upcoming brands.
CLS Holdings USA announced a strong performance in 2021, achieving over $20 million in net revenue, reflecting a 44% year-over-year increase. The company entered two key joint ventures expected to significantly enhance revenue, including a pre-roll venture and a partnership with the Fort McDermitt Paiute and Shoshone Tribe for flower cultivation. City Trees, CLS's primary brand, captured a 6.5% market share in Nevada's cannabis market, with gross margins exceeding 50%. Looking ahead, CLS anticipates continued revenue growth and increased EBITDA for 2022.
CLS Holdings USA, Inc. (CLSH) reported its Q2 fiscal 2022 results ending November 30, 2021, showing a 10% revenue growth year-over-year, with City Trees achieving a remarkable 55% increase in revenue. The company maintains a gross profit margin exceeding 50% and reported an average customer spend of over $55 at Oasis Cannabis. However, the legal cannabis market in Nevada has declined, affecting Oasis with a 3.8% revenue drop. City Trees, recognized as the top-selling brand in several categories, continues to perform robustly despite market challenges.
CLS Holdings USA, Inc. (OTCQB:CLSH) announced that its division, City Trees, won two prestigious awards at the 2021 High Times Cannabis Cup: People's Choice Edition. The products recognized include the Apricot Crumble Sativa Live Resin Sauce and the Apricot Crumble Sativa Live Resin Vape. These wins highlight City Trees' commitment to quality and innovation in cannabis production. In addition to these awards, City Trees achieved several milestones, including being named the top-performing brand in Nevada and selling over $1 million in cartridges within 90 days.
CLS Holdings USA, Inc. (OTCQB:CLSH) reported strong financial results for November 2021, achieving net revenues of $1.8M and a record gross margin of 56%. This marks a 20% increase year-over-year and a 66% rise from 2019. The wholesale branded division, City Trees, saw a 91% growth in year-over-year revenue and a 132% increase from 2019, solidifying its status as a market leader. Additionally, Oasis Cannabis averaged $54 per order and City Trees became the top tincture brand in Nevada. The company plans to transition to quarterly reporting in January 2022.
CLS Holdings USA, Inc. (OTCQB:CLSH) has appointed Dani Baranowski as the new Brand Manager for its City Trees product division. Baranowski, an experienced advocate in the cannabis industry, expressed excitement about her new role, highlighting her commitment to the brand. Company President Andrew Glashow acknowledged her significant impact in the cannabis community and confidence in her ability to drive the company's vision. The press release also emphasizes CLS's diversified cannabis operations and plans for expansion beyond Nevada.
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CLS Holdings USA (CLSH) reported its financial results for October 2021, achieving $1.9 million in net revenues with a gross margin of 46%. The company experienced an 8% year-over-year growth and a significant 87% increase from 2019. City Trees, its wholesale division, posted a 34% growth year-over-year. The retail division, Oasis Cannabis, maintained a strong average order size of $57. City Trees ranked as the top tincture brand and the number two selling concentrate brand in Nevada as per BDS Analytics.
The company plans to transition to quarterly reporting in February 2022.